By Precious Momoh
According to President Bola Tinubu, Nigerian drivers may now buy one litre of Premium Motor Spirit, commonly referred to as petrol, for N1,000. The president also mentioned that a Standard Cubic Meter of Compressed Natural Gas, which is comparable to one liter of gasoline, costs N200.
According to President Bola Tinubu, Nigerian drivers may now buy one litre of Premium Motor Spirit, commonly referred to as petrol, for N1,000.
The president also mentioned that a Standard Cubic Meter of Compressed Natural Gas, which is comparable to one liter of gasoline, costs N200.
According to a statement released by the president’s Special Adviser on Information and Strategy, Bayo Onanuga, titled “President Tinubu meets NIPCO executives, commends investments in the CNG sector,” Tinubu made this statement during a meeting with the executives of the Nigerian Independent Petroleum Company, led by the director, Mr. Ramesh Kasangra, at the State House in Abuja on Tuesday.
Drivers in Nigeria can purchase gasoline for N1,000 per liter or N200 per standard cubic meter. Additionally, we have made it “free of cost” for commercial drivers to switch from gasoline to gas, Tinubu stated.
The President praised NIPCO’s contributions to the country’s energy transition initiatives, especially its support for the Presidential Compressed Natural Gas Initiative (PCNGI), according to a portion of the statement.
President Tinubu recognized NIPCO’s contribution to the growth of CNG as an alternative fuel at the meeting, pointing out that these investments complement his administration’s energy security and economic diversification agenda.
He emphasized how crucial public-private partnerships are to accelerating Nigerians’ shift to greener and more reasonably priced energy options.
Even before the official launch of the Presidential CNG Initiative, NIPCO’s work in promoting and supporting the “Switch to CNG” campaign has been crucial in raising public awareness and offering reasonably priced CNG conversion kits, which the President praised.
During the discussion, President Tinubu acknowledged NIPCO’s role in the development of CNG as an alternative fuel, noting that these investments support the energy security and economic diversification goals of his administration.
NIPCO announced in January 2024 that it has spent more over N100 billion building CNG stations nationwide and laying pipelines for convenient access to CNG from major trunks already in place throughout its operating states.
According to Tinubu, the PCNGI has assisted in lowering Nigeria’s “reliance on petrol and cutting down fuel costs for consumers.” He also mentioned that CNG, being a cleaner and more reasonably priced fuel, lowers the carbon footprint and saves consumers a substantial amount of money on fuel.
In order to improve energy efficiency and economic progress, the president emphasized his administration’s commitment to creating an atmosphere that is favorable for private sector investments and growing Nigeria’s CNG infrastructure.
He also urged NIPCO to support the government’s larger energy-related objectives while maintaining its creative approach to CNG expansion.
The director of the company praised the president in his speech for his unwavering support of the CNG industry and reaffirmed NIPCO’s commitment to advancing the cooperation with the government to keep Nigeria’s energy transformation on course.
He also assured Tinubu that the company was ready to invest in infrastructure to make CNG more accessible nationwide.
He claims that NIPCO has been a major force in several Nigerian industries for more than 40 years and would keep having faith in the country in the long run.
